| Consolidated Statements of Cash Flows |
Years Ended September 30
Thousands of dollarss |
| |
2005 |
2004 |
2003 |
 |
| Operating Activities |
|
|
|
|
|
|
|
|
|
| Net income |
$ |
722,263 |
|
$ |
467,402 |
|
$ |
547,056 |
|
| (Income) loss from discontinued operations, net |
|
(29,980 |
) |
|
115,102 |
|
|
7,874 |
|
|
| Income from continuing operations, net |
|
692,283 |
|
|
582,504 |
|
|
554,930 |
|
| Adjustments to income from continuing operations to |
|
|
|
|
|
|
|
|
|
| derive net cash provided by continuing operating activities: |
|
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
387,496 |
|
|
357,224 |
|
|
335,759 |
|
| Share-based compensation |
|
70,199 |
|
|
2,466 |
|
|
— |
|
| Deferred income taxes |
|
63,229 |
|
|
(31,345 |
) |
|
5,921 |
|
| BGM charges |
|
— |
|
|
38,551 |
|
|
— |
|
| Change in operating assets: |
|
|
|
|
|
|
|
|
|
| Trade receivables |
|
(41,618 |
) |
|
(15,854 |
) |
|
31,450 |
|
| Inventories |
|
(44,346 |
) |
|
30,096 |
|
|
(49,854 |
) |
| Prepaid expenses, deferred taxes and other |
|
12,636 |
|
|
(2,466 |
) |
|
8,596 |
|
| Accounts payable, income taxes and other liabilities |
|
142,254 |
|
|
99,447 |
|
|
65,500 |
|
| Pension obligation |
|
(58,842 |
) |
|
48,045 |
|
|
(47,382 |
) |
| Other, net |
|
638 |
|
|
(5,942 |
) |
|
(1,987 |
) |
|
| Net Cash Provided by Continuing Operating Activities |
|
1,223,929 |
|
|
1,102,726 |
|
|
902,933 |
|
|
| |
|
|
|
|
|
|
|
|
|
| Investing Activities |
|
|
|
|
|
|
|
|
|
| Capital expenditures |
|
(317,628 |
) |
|
(265,718 |
) |
|
(259,218 |
) |
| Capitalized software |
|
(18,922 |
) |
|
(39,190 |
) |
|
(64,782 |
) |
| Change in short-term investments |
|
(43,775 |
) |
|
(31,298 |
) |
|
1,975 |
|
| Purchases of long-term investments |
|
(1,171 |
) |
|
(10,149 |
) |
|
(4,399 |
) |
| Acquisition of business, net of cash acquired |
|
— |
|
|
(24,251 |
) |
|
— |
|
| Proceeds from discontinued operations |
|
62,051 |
|
|
— |
|
|
— |
|
| Other, net |
|
(62,566 |
) |
|
(24,628 |
) |
|
(21,987 |
) |
|
| Net Cash Used for Continuing Investing Activities |
|
(382,011 |
) |
|
(395,234 |
) |
|
(348,411 |
) |
|
| |
|
|
|
|
|
|
|
|
|
| Financing Activities |
|
|
|
|
|
|
|
|
|
| Change in short-term debt |
|
157,211 |
|
|
(56,509 |
) |
|
(319,608 |
) |
| Proceeds of long-term debt |
|
— |
|
|
— |
|
|
404,683 |
|
| Payment of long-term debt |
|
(104,522 |
) |
|
(21,682 |
) |
|
(6,386 |
) |
| Repurchase of common stock |
|
(549,999 |
) |
|
(449,930 |
) |
|
(349,998 |
) |
| Issuance of common stock |
|
123,494 |
|
|
173,606 |
|
|
86,618 |
|
| Excess tax benefit from stock option exercises |
|
31,545 |
|
|
— |
|
|
— |
|
| Dividends paid |
|
(182,236 |
) |
|
(152,376 |
) |
|
(104,148 |
) |
|
| Net Cash Used for Continuing Financing Activities |
|
(524,507 |
) |
|
(506,891 |
) |
|
(288,839 |
) |
|
| Net Cash Provided by (Used for) Discontinued Operations |
|
2,245 |
|
|
(2,726 |
) |
|
(1,003 |
) |
| Effect of exchange rate changes on cash and equivalents |
|
3,856 |
|
|
1,617 |
|
|
12,091 |
|
|
| Net Increase in Cash and Equivalents |
|
323,512 |
|
|
199,492 |
|
|
276,771 |
|
| Opening Cash and Equivalents |
|
719,378 |
|
|
519,886 |
|
|
243,115 |
|
|
| Closing Cash and Equivalents |
$ |
1,042,890 |
|
$ |
719,378 |
|
$ |
519,886 |
|
|
See notes to consolidated financial statements
|
